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The role of institutions in private participation in infrastructure revisited

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  • Taguchi, Hiroyuki

Abstract

This paper aims to examine institutional effects on the private participation in infrastructure (PPI) projects during the recent period for 2002-2017 with 117 sample economies, by using the PPI and the Worldwide Governance Indicators database of the World Bank. The study contributes to enriching the evidence by updating the sample time-horizon and by widening the coverage of sample economies. The main findings of this study are summarized as follow: the institutional role in promoting the PPI projects are clearly identified in terms of government governance indicators such as government effectiveness, regulatory quality, rule of law and control of corruption; in particular, the control of corruption, which is the controversial issue in the previous studies, is confirmed to be one of the important factors to boost the PPI projects; and the macroeconomic stability is also a significant contributor for the PPI projects.

Suggested Citation

  • Taguchi, Hiroyuki, 2019. "The role of institutions in private participation in infrastructure revisited," MPRA Paper 93555, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:93555
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    File URL: https://mpra.ub.uni-muenchen.de/93555/1/MPRA_paper_93555.pdf
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    References listed on IDEAS

    as
    1. Flachaire, Emmanuel & García-Peñalosa, Cecilia & Konte, Maty, 2014. "Political versus economic institutions in the growth process," Journal of Comparative Economics, Elsevier, vol. 42(1), pages 212-229.
    2. Lee, Keun & Kim, Byung-Yeon, 2009. "Both Institutions and Policies Matter but Differently for Different Income Groups of Countries: Determinants of Long-Run Economic Growth Revisited," World Development, Elsevier, vol. 37(3), pages 533-549, March.
    3. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, June.
    4. Albert de Vaal & Wouter Ebben, 2011. "Institutions and the Relation between Corruption and Economic Growth," Review of Development Economics, Wiley Blackwell, vol. 15(1), pages 108-123, February.
    5. repec:bla:devpol:v:24:y:2006:i:2:p:175-202 is not listed on IDEAS
    6. Mr. Arvind Subramanian & Mr. Francesco Trebbi & Mr. Dani Rodrik, 2002. "Institutions Rule: The Primacy of Institutions over Integration and Geography in Economic Development," IMF Working Papers 2002/189, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Private Participation in Infrastructure; Institution; Worldwide Governance Indicator; Control of Corruption; and Multicollinearity;
    All these keywords.

    JEL classification:

    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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